Barrick Gold (NYSE:GOLD) Trading Down 0.1% – Here’s What Happened

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) dropped 0.1% during trading on Friday . The stock traded as low as $15.46 and last traded at $15.73. Approximately 3,464,043 shares changed hands during trading, a decline of 84% from the average daily volume of 21,251,080 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent analyst reports. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Raymond James decreased their target price on shares of Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, November 25th. Berenberg Bank boosted their price target on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus price target of $24.82.

Barrick Gold Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The company’s 50 day moving average price is $17.81 and its 200 day moving average price is $18.44. The company has a market cap of $27.28 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.47 and a beta of 0.53.

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.10 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.55%. Barrick Gold’s dividend payout ratio is currently 43.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOLD. Exchange Traded Concepts LLC boosted its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after purchasing an additional 935 shares during the period. Eastern Bank bought a new stake in shares of Barrick Gold during the 3rd quarter worth $32,000. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in Barrick Gold by 451.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock worth $38,000 after acquiring an additional 1,563 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in Barrick Gold during the 3rd quarter worth $60,000. 62.85% of the stock is owned by institutional investors.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.